More Losses for Ether, Dash

Both of the cryptos we follow on Thursday are down since our last update. Ethereum is trading lower by over 10 percent while Dash is down by almost 5 percent.

Ethereum Down Over 10 Percent

Ether is quoted at 0.0797 BTC right now, lower by over 10 percent. The downtrend in ETH/BTC continues for another week. To end it the bulls will have to push us back above the 0.1 BTC round figure.

Support on the way down can be found at the recent swing low of 0.07614 BTC followed by the 0.07 and 0.06 BTC round figures. A new uptrend requires a break of the 0.11139 BTC swing high. On the weekly and monthly charts ETH/BTC is still looking bullish.

Dash Trading Lower

Dash is trading at 0.06274 at the moment, down from 0.06577 BTC. This is a loss of 4.6 percent. Still DSH/BTC remains in a range and we’re not in a downtrend yet.

To start one prices have to fall below the 0.05513 BTC swing low. Support below here can be found at the 0.05 round figure. On the other end the ‘number to beat’ is 0.07343 BTC. A breakout above this former swing high could start a new rally.

Higher up we have resistance at the 0.077 BTC swing high. Close to here we have another resistance at 0.08058 BTC. Higher still we find more resistance levels at 0.08572, 0.087 and 0.09099 BTC. The 0.1 BTC round figure is another notable resistance point. Dash is also range-bound on the weekly chart. The monthlies are keeping the bullish bias.

Bitcoin Back Below $10,000

Bitcoin prices are back below the psychological $10,000 figure. The brief break above this level proved short-lived and we’re now trading at $9,828 dollars per coin. The pair remains in a range on the daily charts.

A new downtrend requires a move below the $5,980 swing low. To trigger a new rally the bulls have to push us above the $11,769 swing high. For now we remain in ‘wait and see’ mode here. Bitcoin is in range on the weekly charts. The monthly BTC/USD charts are still looking bullish.

Petar is a forex trader and writer with 9 years of experience in financial markets. He has been following bitcoin since 2010. A year ago, as the BTC market matured, he started getting more involved by writing articles on bitcoin and other alternative currencies.